USD.AI Announces Investment from Coinbase Ventures
Nov 17, 2025|USD.AI raises investment from Coinbase Ventures to scale on-chain credit that finances GPU infrastructure for the global AI economy.
October 2025 — New York, NY — Coinbase Ventures has made an investment in Permian Labs, the developer of USD.AI, a structured, on-chain credit system that connects decentralized liquidity to real-world financing for GPU infrastructure supporting artificial intelligence.
Permian Labs develops and maintains the USD.AI protocol, which is designed to facilitate secured, on-chain borrow operations collateralized by verifiable, productive assets.
USD.AI is also the issuer of the USDai stablecoin and yield-bearing sUSDai that underpins the protocol. USDai is a stablecoin representing tokenized dollar liquidity fully collateralized by short-duration U.S. Treasuries, while sUSDai is its yield-bearing counterpart that earns income from both Treasury yields and GPU-backed credit positions originated through the USD.AI. This dual-token structure enables secure, transparent exposure to productive, asset-backed financing supporting the global AI infrastructure economy.
USD.AI integrates three modular components: CALIBER for asset tokenization and legal enforceability, FiLo for decentralized underwriting with first-loss alignment, and QEV for liquidity sequencing derived from amortizing repayments. Together, these components provide a transparent framework for origination, servicing, and resolution of GPU-backed credit positions.
About Permian Labs
Permian Labs is the developer of USD.AI, an on-chain credit protocol focused on financing productive compute assets. The team builds legal, technical, and risk primitives that enable collateralization, origination, and servicing of GPU-backed credit positions through verifiable, on-chain mechanisms. Permian Labs is headquartered in New York, with contributors across multiple jurisdictions.
About USD.AI
USD.AI is a protocol designed to connect DeFi liquidity with real-world financing for AI infrastructure.
About Coinbase Ventures
Coinbase Ventures backs exceptional entrepreneurs working to advance the crypto ecosystem to support Coinbase’s mission of creating more economic freedom for the world, partnering with founding teams at the earliest stages and investing broadly across all categories within the onchain economy.